Crypto License in Lithuania
At the moment, Lithuania is one of the most popular jurisdictions in the European Union for Obtaining a Virtual Asset Service Provider license to operate a crypto exchange or other blockchain-related projects, thanks to its simple and understandable AML/CFT legislation.
Unlock Your Potential with EU’s Crypto License
Crypto Related Regulatory Framework in Lithuania is known for being transparent and business-friendly for blockchain industry, providing clear guidelines and requirements for VASP applicants. Additionally, Lithuania offers a favorable tax environment and a well-developed financial infrastructure, which further enhances its attractiveness for crypto entrepreneurs and investors.
Apply for a crypto license in Lithuania – price from 3500 €
We have been specializing in full legal support for crypto projects since 2017, as well as providing financial and AML/CFT consulting services. Over the years of work, we have successfully obtained licenses for crypto related activities in the EU for more than 300 of our clients, including large crypto exchanges and other type blockchain projects.
Get a crypto licence in Lithuania for your blockchain-strartup just in few weeks! Send enquiryCRYPTO EXCHANGE LICENSE IN LITHUANIA
Getting a European Crypto-Asset Service Provider License
Since 2017, our company has specialized in licensing, consulting, and providing comprehensive legal support for Crypto-Related Business in the EU. Our team of experts has navigated the complex blockchain regulatory landscape, ensuring that our clients remain compliant while optimizing their operations.
We have successfully assisted Numerous Blockchain Ventures in securing the necessary licenses, offering tailored consulting services, and providing ongoing legal support to help them thrive in the ever-evolving Virtual-Assets Industry.
Acquire a Lithuania’s Crypto License
Within the scope of this proposal, we recommend considering Lithuania as a jurisdiction for Obtaining a Crypto License for Virtual Asset Service Provider (VASP) or Crypto-Asset Service Provider (CASP) activities. This European Country offers a favorable Crypto Regulatory Environment, along with a fast and straightforward Licensing Process, making it an attractive option for Blockchain Startups.
We have prepared a comprehensive legal base on AML/CFT issues, developed and implemented efficient algorithms for interaction with regulators, and acquired many partners worldwide, including payment systems, crypto exchanges, and other specialized services. Our extensive network and deep understanding of regulatory requirements make us the ideal partner for companies seeking to establish a foothold in the European market.
Regulating Blockchain in Lithuania
Lithuanian Crypto Regulation: What Legal Norms Regulate VASP Activities?
Lithuania has emerged as a significant player in the Blockchain and Cryptocurrency space, positioning itself as a forward-thinking hub for digital innovation. The regulation of the blockchain industry in Lithuania is designed to foster growth while ensuring security and compliance. The local government has implemented a robust legal framework that not only supports Blockchain Technology but also addresses the challenges associated with it.
Lithuania’s Proactive Regulatory Approach to Blockchain and Virtual Assets
From licensing requirements for cryptocurrency exchanges to comprehensive anti-money laundering (AML) policies, Lithuania’s regulatory approach aims to create a balanced environment that encourages innovation while protecting users and investors. The country’s commitment to transparency and legal clarity has attracted numerous blockchain startups and established companies looking to leverage Lithuania’s supportive ecosystem.
- Regulatory Authority
- Financial Crime Investigation Service (FCIS)
- Legislation:
- Law on the Prevention of Money Laundering and Terrorist Financing of Lithuania
- EU directive 2015/849 (4th Anti-Money Laundering Directive, 4AMLD)
- EU directive 2018/843 (5th Anti-Money Laundering Directive, 5AMLD)
- EP and the EU Council Regulation 2023/1114 (Markets in Crypto-Assets, MiCA)
By staying ahead of the curve, Lithuania continues to refine its regulations, adapting to the rapidly evolving landscape of blockchain technology. This proactive stance ensures that Lithuania remains a competitive and attractive destination for blockchain ventures, fostering a thriving community of innovators and entrepreneurs.
Securing a Crypto License in Lithuania
Exploring Crypto Licensing Options in Lithuania
Acquiring a crypto license in Lithuania requires understanding the regulatory landscape and strict compliance. Our experts guide you through every step, from consultation to final approval, ensuring a smooth licensing journey with our experience in EU regulations.
Licensing Solutions: New or Pre-Established
We offer two options: obtaining a new license or purchasing a pre-established company with an existing license. Whether starting fresh or seeking expedited market entry, our solutions cater to your needs.
Obtaining a License from the Scratch
Crypto Licensing Solutions in Lithuania
We provide full support for Applying for a VASP License in Lithuania, ensuring compliance with straightforward AML/CFT regulations. Our team guarantees a seamless process, from company registration to obtaining the necessary licenses, so you can focus on growing your blockchain business.
Launch Your Blockchain-Venture Now!
Our expertise ensures that your company will meet all the necessary legal and regulatory requirements without any hassle.
Ready-Made Solutions
Buy a Ready-Made Company with a Crypto License in Lithuania
We offer the opportunity to purchase a ready-made company in Lithuania with a registered share capital of 125,000 euros and a Pre-Obtained Crypto License. Buying a ready-made company will help you launch your startup in the shortest possible time.
Get a Lithuanian crypto licensed company and launch your blockchain-startup!
Find out the cost and conditions of acquiring a ready-made solution for your blockchain project right now.
PRICE OFFER
Explore Our Pricing for Crypto Licensing in Lithuania
Below you can find information on the cost of services for registering a company and obtaining a license for operations with cryptocurrencies in Lithuania, as well as prices for additional and ancillary services.
Advantages of the Lithuanian Crypto License
Why Lithuania Deserves a Closer Look for Registering Your Crypto Company?
Lithuania, with its straightforward cryptocurrency regulation and reputation as a European center of financial innovation and fintech start-ups, has one of the most attractive jurisdictions in the EU for business-related activities with cryptocurrencies and virtual assets.
Obtain a Virtual Asset Service Provider License in Lithuania
A Lithuanian VASP authorization is the best solution for beginner exchanges or other startups, which will also become a reliable tool for reducing or diversifying regulatory or jurisdictional risks for existing crypto exchanges, exchangers, and blockchain projects of a different focus.
- Obtain a European Crypto License in the Shortest Possible Time
On average, the process of registering a company and obtaining authorization takes anywhere from 30 to 45 days.
- Simple Corporate Structure
To create a Lithuanian crypto company, you only need one founder and director, and they can be a resident of any country.
- Fully Remote Procedure
Establishing a Lithuanian entity and getting authorization does not require a personal visit to Lithuania as everything can be done through an attorney.
- Minimal Financial Costs
The cost of getting a crypto license in Lithuania, as well as further support and maintenance of a project, is noticeably lower than in other blockchain-friendly jurisdictions.
Our company offers an opportunity to Obtain a Cryptocurrency License in Lithuania on a turnkey basis within 30-45 days. Our employees do all the work without involving any intermediaries and third-party specialists.
Opportunities Provided by the Lithuanian Crypto License
Services Provided by a Crypto Company with a VASP License in Lithuania
Under current laws, service providers who want to engage in the exchange and circulation of virtual assets must register their activities and obtain either a “Virtual Currency Exchange Operator” or a “Cryptocurrency Depository Wallet Operator” license.
A Lithuanian crypto license opens up a wide range of opportunities for companies looking to operate in the virtual asset space. With a VASP license, businesses can offer various services related to cryptocurrencies and digital assets, including exchange, storage, and transfer. This comprehensive license allows companies to cater to the growing demand for crypto-related services while operating within a well-defined legal framework.
VASP/CASP License in Lithuania
Crypto service providers, also known as Virtual Asset Service Providers (VASPs), are authorized to provide the following services, subject to regulatory compliance and licensing requirements:
Virtual Currency Exchange Operator Shall mean a legal person who provides services of virtual currency exchange, purchase and/or sale for remuneration, including:
- Crypto vs Fiat Exchange
- Fiat vs Crypto Exchange
- Crypto vs Crypto Exchange
Custodian Virtual Currency Wallet Operator Shall mean a legal person who provides services of management of custodian virtual currency wallets on behalf of the customers, including:
- Virtual Assets and Crypto Storage Service
- Crypto Transfer Service
One of the key advantages of obtaining a VASP license in Lithuania is the ability to provide a full suite of cryptocurrency services to clients. This includes facilitating the exchange of virtual currencies for fiat money and vice versa, as well as enabling crypto-to-crypto trading pairs.
Additionally, licensed companies can offer secure custodial services for digital assets, ensuring that customers’ funds are stored safely and can be accessed when needed. By operating under a VASP license, blockchain businesses in Lithuania can establish trust with their clients and demonstrate their commitment to regulatory compliance.
Requirements for Crypto Companies Operating in Lithuania
Navigating the Legal Landscape for Virtual Currency Businesses
Blockchain business representatives, known as Virtual Asset Service Providers (VASPs), are held to a high standard due to the unique characteristics and elevated risks associated with the cryptocurrency industry, particularly in the context of combating money laundering and terrorism financing.
To operate legally in Lithuania, VASPs must adhere to a comprehensive set of requirements designed to ensure the integrity and transparency of their operations. These requirements cover various aspects of the business, from financial obligations to the qualifications of key personnel and the implementation of robust internal policies and procedures. By meeting these stringent criteria, VASPs can demonstrate their commitment to regulatory compliance and establish trust with both customers and authorities in the Lithuanian market.
- Share Capital
Lithuanian legislation stipulates that the share capital of a licensed company must be at least 125,000 euros. However, the local Commercial Code allows for the formation of share capital in such a way that 25% of the declared cash amount is contributed at the initial stage, and the remaining 75% must be contributed within one calendar year.
- Directors, shareholders, and beneficiaries
Everyone involved with a licensed company must have a flawless business reputation and a clean criminal record, including financial or fiscal offenses.
- Internal AML/CFT policy and risk management
Licensed companies must develop and implement effective AML/CFT measures into their internal activities, which must include and regulate the following instances:
- the procedure for identifying the client and applying security measures to them;
- the procedure for tracking business relationships and regular updates of customer information;
- the procedure for screening and monitoring transactions and client activities;
- the procedure for applying international financial sanctions and restrictive measures;
- the procedure for assessing risks related to company activities and the policy for managing identified risks;
- the procedure for submitting a notice and information to the FCIS;
- the procedure for internal control and complying with the AML/CFT measures by the employees.
- Qualified MLRO/AML officer
A licensed company must hire a qualified AML officer (Compliance Officer), also known as MLRO (Money Laundering Reporting Officer), to communicate with the FCIS and inform the regulator about suspicious transactions. A candidate for the position of an AML officer must have the knowledge and competence in the AML/CFT field, speak sufficient Lithuanian, and understand the Lithuanian legislation.
- Obligation to notify and inform the regulator of suspicious transactions
Companies that work based on a Lithuanian authorization must notify the FCIS about suspicious or unusual transactions and inform the FCIS about other instances and circumstances indicated in legal acts and regulator guidelines. One of the unique features of the Lithuanian AML legislation is the obligation to inform the FCIS of all completed virtual asset transactions if the value of the indicated transaction is equal to or exceeds 15 000 euros or an equivalent amount in another foreign or virtual currency.
- Obligation to store customer and transaction data
All Lithuanian licensed companies are obligated to comply with AML/CFT measures, therefore they must store customer data, information about transactions made by them, and other significant data during the entire period of existence of business relationships with the client, as well as for 8 years from the date of their termination.
We will carefully analyze all the details and business flows of your project, contribute to the development and implementation of effective AML/KYC principles, and offer the most rational organizational solutions for getting a license to work with cryptocurrencies as soon as possible.
How to Apply for a Crypto License in Lithuania
Main Steps for Obtaining a Lithuania’s Crypto License
The process of getting a VASP License in Lithuania consists of several steps: submitting a notice to the state authorities about the intention to conduct activities for the exchange or storage of virtual assets, registering relevant activities in The Register of Legal Entities of Lithuania, and performing other procedures and formalities, which are listed below for your information:
- Establishing a Company in Lithuania
The very first step on the way to Obtaining a Crypto License is the registration of a company in Lithuania. To conduct cryptocurrency activities and obtain a Lithuanian authorization, it is best to register a limited liability company (lit. Uždaroji akcinė bendrovė or UAB.) As part of the registration process, a company must have a share capital of at least 125 000 euros in the administrative account, which is created at a local bank or through a payment system (EMI or PSP).
Lithuania’s regulatory framework allows the share capital to be contributed in parts over 1 year – for initial registration of the share capital, only 25% of the declared amount needs to be contributed.
- Develop Comprehensive Internal AML/CFT documentation
An essential condition for obtaining a crypto authorization in Lithuania is developing and implementing effective AML/CFT measures into the company’s internal activities, evaluating risks, and managing identified risks.
- Registering Cryptocurrency and Virtual Asset Exchange Activities
A company that wishes to obtain a crypto authorization in Lithuania must inform the state authorities of its intentions and register itself as a “virtual currency exchange operator” and/or a “cryptocurrency depository wallet operator” in The Register of Legal Entities, and receive a corresponding note on the company’s register card. By applying for registration, the licensed company and persons related to it confirm that they are familiar with the AML/CFT legislation and are committed to respecting it.
- Setting Up a Payment Account
Every company that has received a virtual asset service provider license needs a reliable payment solution for settlements with clients. We offer various options for opening administrative accounts for blockchain projects through banks or EMI/PSP payment systems, which are acceptive of high risks and representatives of the blockchain industry.
- Involving a MLRO and AML officer
MLRO/AML officer’s main responsibility is to represent the interests of the entity to the regulator (FCIS) and to submit notices of suspicious transactions to the regulatory authorities. We will help you find a competent candidate for the MLRO position in your company.
- Notifying the Regulator
Companies that provide services for the exchange or storage of virtual assets are to notify the FCIS in written form and provide contact details of the MLRO, the director, and other persons responsible for implementing measures to fight money laundering and terrorist financing.
Our company specialists will offer you the best solutions for getting a VASP authorization in the shortest possible time. All mentioned activities are done either in person with a company representative or remotely on the basis of a power of attorney.
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Many years of experience and the competence of our specialists will help your blockchain startup enter the legal framework of the European Union in the shortest possible time. We will provide you with complex support, assist you in Registering a Company in Lithuania and Getting a License for the provision of services for the exchange and storage of virtual assets.
Navigating the Licensing Process with Expert Guidance
Our team of experts will guide you through every step of the licensing process, from preparing the necessary documentation to liaising with regulatory authorities. We understand the importance of compliance and will ensure that your company meets all the requirements set forth by the FCIS. By partnering with us, you can focus on growing your business while we handle the complexities of the regulatory landscape.
FAQ | Frequently Asked Questions
Below you will find a list of frequently asked questions in terms of obtaining the crypto license in Lithuania for VASP and CASP activities, most frequently encountered by our consultants in their work. Familiarization with these materials may be relevant for you.
- For what term is a crypto license issued in Lithuania?
In Lithuania, the authorization of a crypto-asset service provider (crypto license) is issued indefinitely.
- Are there any regular fees, duties, or charges for Lithuanian VASP/CASP?
No, the activities of Lithuanian crypto companies are not subject to any separate duties, fees, or supervisory charges.
- Does a crypto company need to have a physical office in Lithuania?
There is no requirement for a leased office on the territory of Lithuania.
- Does a Lithuanian VASP/CASP need to employ local staff?
Yes, every Lithuanian crypto company is required to appoint a MLRO (Money Laundering Reporting Officer) from among Lithuanian residents, with whom an employment relationship must be established.
- Can services related to virtual currencies and crypto-assets be offered to non-EU residents?
Yes, subject to appropriate AML/KYC measures, Lithuanian crypto companies are allowed to offer cryptocurrency and virtual assents exchange and storage services, as well as other crypto-asset services to their customers who are located outside the EU.
- Can foreigners be shareholders and a directors in a Lithuanian company?
Foreign citizens, including those from countries outside the European Union, can be founders (shareholders) or directors (managers) in a Lithuanian crypto company.
- From what amount should a crypto company identify a client?
According to current legislation, crypto-asset service providers are required to identify a client and apply AML/KYC measures to customers if the transaction volume or amount exceeds 700 euros.
- Are crypto-companies in Lithuania subject to corporate taxes?
Yes, crypto companies, like all other enterprises registered and conducting their activities in the legal field of the Republic of Lithuania, are obliged to pay corporate income tax of 15% on the profit earned for the fiscal year. Those enterprises whose turnover does not exceed 300,000 euros and which have no more than 10 employees can count on a reduced income tax rate of 5%.
